Municipality Buildings for Sale in Bulgaria

Old Municipality Buildings For Sale

In most rural villages around Bulgaria, there are large abandoned properties that were once schools, local municipality buildings and so on. With many people leaving the more rural villages for the larger towns and cities, many schools have closed and the general administration tasks have been moved to the municipality towns and out of the villages, leaving all these buildings abandoned.

The local municipalities can't afford their upkeep or to renovate these large old buildings and so some are for sale, usually very cheaply given the large size of the properties and as they need a lot of money spending on them. But with investment these could be turned into lovely guest houses or small hotels or even apartments for resale.

However, these properties, unless already bought and for resale privately, tend to be for sale by auction. And the process of preparing an old municipality building for auction takes forever! There appears to be huge amounts of beauocracy and checks and inspections that have to first be made, then the property has to be advertised for a month in the local municipality offices and then there will be an auction. All interested parties have to lodge a letter of intention to bid and close to the auction date, have to put down a small deposit and also purchase the 'sales pack' to show they are a serious bidder.

School Hostel in Small Rural Village

The hostel has around 10 rooms. There is one huge room at the front of 40 to 50sqm, a large hall, many smaller rooms, although still a good size, a dining area and a large basement. It is solidly built with concrete pillars for support and wooden beams but it requires totally gutting, re-roofing, new windows and doors, re-wiring, new plumbing and totally re-plastering both inside and outside. You should budget for spending at last 70,000 Euros on it to get to a decent standard.

The hostel comes with 2500 sqm of land.

The property is for sale through the local municipality and as such the process is very long winded. The auction is likely to be in 2008 some time but with the local mayor election results still being contested by the former mayor, it could be a while before the auction date is announced.

The reserve price is around 7000 Euros although this is not yet set in stone. Interested parties need to note their intention to bid and once an auction date is set, purchase a 'buying pack' with plans, notary deeds etc at a cost of a few hundred levs. Bid increments will be around 250 Euros but again not yet set.

Legal costs to deal with the auction as much longer and more complicated process than buying a property privately will be around 500 to 700 Euros. Commission on top of final bid/purchase price will be 1000 Euros, regardless of end price. Then there will be government tax and notary fees of about 2% each of final price.

If you are interested in this type of property please let me know. Please note it requires an awful lot of work.

Old Kindergarten in Rural Village

It is a large single storey building with a huge hall and a large room at the front and then many smaller rooms. Comes with 1500sqm of land - so a good sized plot. Requires a lot of work.

Here is a video clip of the Kindergarten

If you are interested in this type of property please let me know. Please note it requires COMPLETE and UTTER renovation.

Old School - Massive Building Ideal for Hotel

This massive building is being advertised for auction. It is a former school building and has 3 floors. The two main floors each have wide corridors with 8 large rooms off this and 2 smaller rooms at either end that were bathrooms. The rooms are massive and could be divided. There are internal stairs.

There is also a basement with hall and 2 or 3 smaller rooms.

The school comes with 12,000sqm of land and has amazing views from the top floor.

But it requires complete and total renovation - all new plasterwork both internally and externally, new roof, new wiring, plumbing, new windows and so on. You are looking at a minimum of 500,000 Euros to even get this building in a good state of repair and to turn into a hotel it would take maybe that again to get to high enough standard.

That said it is in a fantastic area and ideal for a rural medium sized hotel with large gardens.

Price: 40,000 Euros (to be sold at auction so this is reserve, plus commission at 3% of final bid price but no less than 1000 Euros)

N.B This is for sale by auction by a smaller municipality and so may proceed more quickly than the school hostel mentioned above.

Commission is usually 500 Euros or 3% of purchase price, which ever is higher, and is payable both by the seller and the buyer. To make this easier, the commission owed by the seller is usually included in the selling price. If the property states commission is included this means it includes the amount payable by both buyer and seller, otherwise 500 Euros commission of 3% of the purchase price, whichever is higher, is payable by the BUYER on top of the property purchase price at the time the preliminary contract is signed and deposit paid.

Please note that I try to keep all property details current but as I work with a number of agents and contacts and the property market is fairly dynamic, it maybe that some of the houses detailed are sold or prices have changed, since I last checked.